Members of the Communist Party of India (Marxist) staged a demonstration in front of the State Bank of India, the Lead Bank of Kalaburagi district, here on Tuesday to protest against Union government’s decision to demonetise Rs. 1,000 and Rs. 500 notes.
CPI(M) district secretary Sharanabasappa Mamshetty, in a memorandum addressed to Prime Minister Narendra Modi, demanded that Rs. 1,000 and Rs. 500 notes be allowed in transactions up to December 31 till alternative arrangements were in place.
He urged the government to accept the decision taken at the CPI(M) politburo meeting, led by the Kerala and Tripura governments, and to allow for the transaction of high-value currency till December 31.
“The common man has been largely affected with the Union government’s decision to demonetise high-value currency. This drive was implemented without proper planning. The government could have brought in structural reforms through tax administration to unearth black money hoarders,” Mr. Mamshetty said and added that that the government had opened the doors to allow for the doubling of corruption by introducing Rs. 2000 notes.
